Innovation and Insights Zone 

In addressing the challenges of managing global indirect tax compliance whilst continuing to deliver value in an ever-changing legislative and regulatory environment, a business needs to embrace new technologies as part of the compliance process, and ensure access to up-to-date, tax-specific information.

Professionals from KPMG’s global network of member firms will be available in Amsterdam to discuss and demonstrate a wide range of tax technology tools that are available to tax teams. You can sign-up for a one-on-one demonstration of any of the following enabling technologies during the registration process:

Creating value – VAT Cash Optimization Tool

Even though value added tax (VAT) often represents a company’s third largest cash flow, VAT is not on the radar of most finance function leaders. KPMG’s Indirect Tax team can help a business improve its global VAT cash flow position through a combination of ideas and methodologies, together with KPMG’s VAT Cash Optimization Tool (VCOT).

VCOT enables the tax director to quantify the cash impact of VAT on the balance sheet. It can help identify quick-win VAT process opportunities and more strategic value chain transformation projects. VAT compliance is imperative, but effective VAT management enables tax teams to better engage with the business and the senior finance team in their own language.


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Deriving value from VAT refunds

Companies doing business in the European Union are often entitled to recover VAT paid on certain types of business expenses and purchases of goods or services. But in many cases, a sizeable amount of foreign VAT is left unclaimed.

KPMG member firms have developed a new approach that analyzes a company’s credit card and/or expenses system data using proprietary technology. A ‘VAT Opportunity Report’ is produced that identifies potential VAT recovery amounts and targeted invoices associated with the refund opportunities.

KPMG’s automated VAT recovery solution can be used to process invoices, run quality checks and generate more accurate VAT refund claims.


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Data & the big picture – Tax Intelligence Solution

The integrity of a company’s transactional data is critical when preparing VAT returns and managing indirect tax compliance. At a time when the tax authorities are employing powerful third-party data analysis tools to conduct VAT audits, it is essential for a business to have confidence in its data.

That’s why KPMG member firms developed the Tax Intelligence Solution (TIS) to detect inherent risks and opportunities in transactional data. TIS makes it possible to efficiently extract data from underlying systems and run a vast array of VAT specific analysis tests in conjunction with other typical finance-related tests. A customizable dashboard then allows you to easily navigate the various reporting outputs.


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Effective compliance – Partial Exemption Cube (PXCube)

With tax authorities increasingly focused on indirect tax compliance and partly exempt businesses bearing ever more regulatory burdens, more time and effort is required to verify the accuracy and completeness of the numbers in the partial exemption process.

KPMG member firms have developed the PXCube and the Recovery Calculator to help partly exempt companies automate the assimilation and consolidation of cost, revenue and other applicable data, and generate the partial exemption calculations.

Beyond generating multi-jurisdictional VAT/GST returns, the PXCube suite offers a wealth of other functionality to help enable your indirect tax team to better manage the overall compliance process.


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Effective Compliance - Thomson Reuter’s ONESOURCE Indirect Tax

ONESOURCE Indirect Tax Determination

Global businesses face a daunting challenge in adhering to complex place of supply rules while keeping up with ever more frequent legislative changes. Common issues include inaccurate tax calculations at necessary points in the transaction lifecycle, outdated tax rates and time-consuming and costly manual processes for updating source systems when changes occur.

KPMG has formed an alliance with Thomson Reuters to leverage the ONESOURCE Indirect Tax Determination solution and provide businesses with a technology-based solution that automates the indirect tax calculation for over 175 countries around the world. ONESOURCE Indirect Tax Determination provides tax accuracy and automation and IT performance and scalability while reducing the overall cost of ownership.

ONESOURCE Indirect Tax Compliance

VAT compliance is an area of growing complexity. In today’s economic environment, businesses face mounting regulatory scrutiny and risk. Common issues include non-standardized processes and controls, lack of data integrity and inefficient use of skilled resources.

KPMG formed an alliance with Thomson Reuters to leverage the ONESOURCE Indirect Tax Compliance solution to provide businesses with a technology-based solution that automates the indirect tax compliance process for multiple jurisdictions. When implemented as part of an aligned approach to indirect tax compliance, it can standardize, accelerate and improve the quality of the compliance process for any size of business.


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Trade & Customs and Integration Point


KPMG recently struck an alliance with Integration Point to provide clients with a unique suite of global trade management (GTM) services. Built on a single, web-based platform, Integration Point's GTM solution can help your company to secure its supply chain and comply with global customs and other governmental regulatory requirements while improving trade visibility and realizing savings.  Through this alliance, KPMG can also support your business by assessing current trade technology capabilities, outlining future governance models incorporating GTM solutions, providing GTM implementation assistance, developing compliance processes, testing transactions, training, and – above all – identifying ways to add value to the business.


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Solving problems, Uncovering Opportunities – The Anybill Payment Engine


Whether you are a public accountant or corporate tax professional, you can now address tax fulfillment issues in ways that were not previously possible. Technology has advanced to the degree where fulfillment solutions can automate transactions, derive insights and generate proactive alerts, all of which help people with tax responsibilities to elevate their own performance. Companies that invest in the payment process are one step closer to end-to-end automation of the entire tax compliance process – and to the lower overhead costs that result.


Taxes will never go away, but you can ease the burden of fulfillment with an effective, automated solution from an experienced payment processor.


Anybill is a third-party payment processing provider and not a KPMG entity.


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2014 KPMG Global Indirect Tax Forum
23-25 June 2014
Hilton Amsterdam Hotel
Apollolaan 138, Amsterdam
1077 BG, Netherlands

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